11 May 2007

Service Announcement

Trading and Infolect

June 2007 Quarterly Review – Advance Notification

Every three months the London Stock Exchange (“the Exchange”) reviews the securities on its markets. This has normally included consideration of a security’s trading platform, its normal market size (“NMS”) and its price format code (“tick size”).

In order to streamline the data migration activities during the transition to TradElectTM on 18th June 2007 only changes required as a result of FTSE Group’s quarterly index review will be implemented. The next review of trading platform and NMS size will be in September 2007.

As notified in Service Announcement Live 43/06 from the inception of TradElectTM the automatic price sensitive system referred to as Dynamic tick size will be adopted for the 28 trading system segments that previously had to be reviewed each quarter. Appendix 1 sets out the full detail of the dynamic schedules.

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Set out overleaf is a high-level timetable showing the stages of the reduced June Quarterly review and the effective dates.

Quarterly Review Timetable

STAGE / EFFECTIVE DATE / AMENDMENT
1 / Friday 8 June 2007 / Issue of Service Announcement providing detail of the instruments impacted by FTSE Group’s reviews and the dates these changes will take place. The Changes may include:
·  change of trading platform;
·  change of trading sector;
Also included will be details of additions to the Exchange’s watch-list of SETSmm securities under review for potential removal from the service in a future quarterly review.
2 / Tuesday
12 June 2007 / Date of securities changing trading platforms prior to the implementation of the FTSE Index revisions.
3 / Friday
15 June 2007 / The final Service Announcement will be issued confirming the changes and advising of any minor amendments or additions that may have arisen in the intervening period
4 / Monday
18 June 2007 / ·  FTSE Group index revisions take place
·  Sector changes within SETS / SETSmm / IOB

Further information with regards to the Exchange’s Quarterly Review can be obtained in the “Guide to Trading Services”. Appendix 7 provides details on SETS and SETSmm entry and exit criteria. The Guide is available on the Exchange’s corporate website at:

http://www.londonstockexchange.com/en-gb/products/membershiptrading/tradingservices/.

Should you have any general queries about this announcement, please contact your primary account manager at the Exchange.

Alternatively if the enquiry is regulatory or technical please use the telephone numbers set out below:

·  Market Supervision: +44 (0)20 7797 3666 - option 1

·  Technical Information: +44 (0)20 7797 3939.

An archive of previously issued announcements is available in the “Technical Library” section of the Exchange's corporate website

(http://www.londonstockexchange.com/techlib).

APPENDIX 1

Detail of Dynamic schedules

SET1

Range / Price Format Code / Price Format Description / Price Format Value
GBX
Less than 10 / J / One hundredth / 0.01
10 – 199.9 / X / Tenths / 0.10
200 – 499.75 / Q / Quarters / 0.25
500 – 999.5 / H / Halves / 0.50
1000 or more / W / Whole / 1.00
GBP / USD / EUR
Less than 0.1 / Z / One ten thousandth / 0.0001
0.1 – 4.9975 / L / One four-hundredth / 0.0025
5– 9.995 / K / One two-hundredth / 0.005
10 or more / J / One hundredth / 0.01

Remainder of SETS, SETSmm and SETSqx - excluding ETFS, covered warrants:

SET2, SET3, STMM, SSMM, AMSM, SSMU, ASQ1, ASQ2, ASQN, SSQ3, SSQ4, ASX1, ASX2, ASXN. SSX3, SSX4

Range / Price Format Code / Price Format Description / Price Format Value
GBX
Less than 10 / J / One hundredth / 0.01
10 – 499.75 / Q / Quarters / 0.25
500 – 999.5 / H / Halves / 0.50
1000 or more / W / Whole / 1.00
GBP / USD / EUR
Less than 0.1 / Z / One ten thousandth / 0.0001
0.1 – 4.9975 / L / One four-hundredth / 0.0025
5– 9.995 / K / One two-hundredth / 0.005
10 or more / J / One hundredth / 0.01

SEAQ, AIM and IRS:

SEAQ, SEQ1*, AIM, AIMI, IRSQ, IRSU

Range / Price Format Code / Price Format Description / Price Format Value
GBX / GBP / USD / EUR
Less than 10 / Z / One ten thousandth / 0.0001
10 or more / Q / Quarters / 0.25

* security DABA is quoted in Australian dollars and will remain on static price format code Z.

IOB and ITBB:

IOB, IOBU, ITBB, ITBU

Range / Price Format Code / Price Format Description / Price Format Value
GBX / GBP / USD / EUR / AUD /CAD / DKK / HKD / INR / JPY / MYR / NOK / ZAR / ZWD
Less than 5 / L / One four-hundredth / 0.0025
5 – 49.99 / J / One hundredth / 0.01
50 – 99.9 / X / One tenth / 0.10
More than 100 / Q / Quarters / 0.25

EUROSETS:

NSTS

Range / Price Format Code / Price Format Description / Price Format Value
EUR
Less than 50 / J / One hundredth / 0.01
50 – 99.95 / V / One twentieth / 0.05
100 – 499.9 / X / One tenth / 0.10
500 or more / H / Halves / 0.50

Service Announcement (Live) 32/07

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